Chinese income tax.

[Jaskalas]

Originally posted by: bamacre
Techs vision for America: China

Yet they balk when I call them communists.

 

[Skitzer]

Originally posted by: Skoorb

Originally posted by: bamacre
Techs vision for America: China

Woot! Where do I sign up?

I'll take that 3rd story Penthouse on the left!!

 

[RyanPaulShaffer]

Originally posted by: miketheidiot

Originally posted by: RyanPaulShaffer

Originally posted by: JeffreyLebowski

Originally posted by: techs

Originally posted by: Phokus

Originally posted by: Skitzer
So you're suggesting that we pay income tax comparable to a Communist Country?

I like it when conservatives deny china is a communist country when talking about their red hot economy in general but when it comes to taxes we can't be like them 'commies'.

hehe. I love it when the lies of the right wing wackos are exposed!

Much like when debunking the outright bullshit of left wing nut jobs
http://online.wsj.com/article/SB121124460502305693.html

Wow, that graph is total ownage of tax and spend liberals. Even when the highest tax bracket was 91%!, the tax revenue as a % of GDP was almost exactly the same as now, when the highest tax bracket is 35%. In fact, tax revenue as a % of GDP has always remained pretty much the same, showing that higher taxes does not lead to more revenue.

The premise of this entire thread is garbage. techs just throws out troll posts to get people bickering. He takes one point (the fact that China's current top tax bracket is 10% higher than ours) and makes the fallacious correlation that higher taxes are a good thing or the only factor that affects an economy.

How many people in China fall into the highest tax bracket? That information is, of course, conspicuously absent from techs' post. I'd reckon that with the incredibly low wages paid to most workers in China, that most wouldn't even pull in $14,000 US.

Also, techs, why no information about the CORPORATE tax on China? He makes the false assumption (surprise) that the only tax that affects an economy is the personal income tax. What about import/export taxes, tariffs, trade laws, etc? Of course, not mentioned, just so he can try and falsely ram his typical liberal drivel.

The reason China's economy is booming is varied, but one of the main reasons why they are successful is because they are doing everything we used to do. Does China have a ridiculous cap and trade bill that cripples its economy for the myth of "global warming/climate change/whatever they change the name to this week once the 'science' has been debunked"? No.

Do they have powerful and tyrannical labor unions demanding $70,000 a year plus lifetime benefits for someone to push a broom? No.

Before the lefties try and put words in my mouth, I am NOT saying that how China treats its employees and the environment is completely right. The best way is in the middle of them and us. The point is that China has developed a very business-friendly economy, while ours is becoming more and more hostile for a business to grow and make money.

when the total share of income receive by people in the top bracket increases dramatically (as it has) you can dramatically cuts taxes and maintain the taxes as % of gdp paid by the top x% The WSJ is being very disingenuous in its argument there and its very easy refuted.

sorry you suck at basic math so much bro.


china is growing rapidly because the are in the stage where every country grows rapidly, just like japan in the 60's/70's/80's or korea in the 90's/00's.

Hmm...

WSJ presents an argument and is a reputable news and financial source.

Some guy on a forum named "miketheidiot" says they are wrong. Then goes on to make the nebulous claim that China is just in some magical growth zone that fantastically explains their super growth.

Yeah, methinks I'll stick with the WSJ on this one.

 

[Mursilis]

Originally posted by: Skoorb

Originally posted by: bamacre
Techs vision for America: China

Woot! Where do I sign up?

In tech's vision of the US, that picture, and all other dissent, is filtered out of the Internet! You'll never know about those slums (unless you're living in them, which would be likely).

 

[CPA]

Hey, I have not problem taxing low-income people. Better than giving them EIC.

 

[Suspicious-Teach8788]

Originally posted by: RyanPaulShaffer

Originally posted by: miketheidiot

Originally posted by: RyanPaulShaffer

Originally posted by: JeffreyLebowski

Originally posted by: techs

Originally posted by: Phokus

Originally posted by: Skitzer
So you're suggesting that we pay income tax comparable to a Communist Country?

I like it when conservatives deny china is a communist country when talking about their red hot economy in general but when it comes to taxes we can't be like them 'commies'.

hehe. I love it when the lies of the right wing wackos are exposed!

Much like when debunking the outright bullshit of left wing nut jobs
http://online.wsj.com/article/SB121124460502305693.html

Wow, that graph is total ownage of tax and spend liberals. Even when the highest tax bracket was 91%!, the tax revenue as a % of GDP was almost exactly the same as now, when the highest tax bracket is 35%. In fact, tax revenue as a % of GDP has always remained pretty much the same, showing that higher taxes does not lead to more revenue.

The premise of this entire thread is garbage. techs just throws out troll posts to get people bickering. He takes one point (the fact that China's current top tax bracket is 10% higher than ours) and makes the fallacious correlation that higher taxes are a good thing or the only factor that affects an economy.

How many people in China fall into the highest tax bracket? That information is, of course, conspicuously absent from techs' post. I'd reckon that with the incredibly low wages paid to most workers in China, that most wouldn't even pull in $14,000 US.

Also, techs, why no information about the CORPORATE tax on China? He makes the false assumption (surprise) that the only tax that affects an economy is the personal income tax. What about import/export taxes, tariffs, trade laws, etc? Of course, not mentioned, just so he can try and falsely ram his typical liberal drivel.

The reason China's economy is booming is varied, but one of the main reasons why they are successful is because they are doing everything we used to do. Does China have a ridiculous cap and trade bill that cripples its economy for the myth of "global warming/climate change/whatever they change the name to this week once the 'science' has been debunked"? No.

Do they have powerful and tyrannical labor unions demanding $70,000 a year plus lifetime benefits for someone to push a broom? No.

Before the lefties try and put words in my mouth, I am NOT saying that how China treats its employees and the environment is completely right. The best way is in the middle of them and us. The point is that China has developed a very business-friendly economy, while ours is becoming more and more hostile for a business to grow and make money.

when the total share of income receive by people in the top bracket increases dramatically (as it has) you can dramatically cuts taxes and maintain the taxes as % of gdp paid by the top x% The WSJ is being very disingenuous in its argument there and its very easy refuted.

sorry you suck at basic math so much bro.


china is growing rapidly because the are in the stage where every country grows rapidly, just like japan in the 60's/70's/80's or korea in the 90's/00's.

Hmm...

WSJ presents an argument and is a reputable news and financial source.

Some guy on a forum named "miketheidiot" says they are wrong. Then goes on to make the nebulous claim that China is just in some magical growth zone that fantastically explains their super growth.

Yeah, methinks I'll stick with the WSJ on this one.

But I think it's pretty obvious that the reason China is growing IS because it's catching up. Just think of it this way. It's easy to reverse-engineer or adapt to technologies already in the field. It's another thing to be like the US and continue to lead the charge. Just like it's hard to invent, but it's easy for consumers to adopt solar panels on their roofs and hybrid cars. You didn't have to do any work to get there. It's natural that if a nation is behind in infrastructure, technology, economy, everything that given the right formula, they can catch up. The catch up phase is always an easy path. As China gets closer to the US they will slow down because you can't keep up that pace of growth forever.

I think you can witness this in the Asian tigers. Taiwan had a boom earlier. Korea had a boom that followed. Look where they are now. China's just rapidly catching up to the rest of them. It's just that a boom for a 1 billion person nation is more noticeable and generates a lot more of an impact in the world.

 

[miketheidiot]

Originally posted by: RyanPaulShaffer

Originally posted by: miketheidiot

Originally posted by: RyanPaulShaffer

Originally posted by: JeffreyLebowski

Originally posted by: techs

Originally posted by: Phokus

Originally posted by: Skitzer
So you're suggesting that we pay income tax comparable to a Communist Country?

I like it when conservatives deny china is a communist country when talking about their red hot economy in general but when it comes to taxes we can't be like them 'commies'.

hehe. I love it when the lies of the right wing wackos are exposed!

Much like when debunking the outright bullshit of left wing nut jobs
http://online.wsj.com/article/SB121124460502305693.html

Wow, that graph is total ownage of tax and spend liberals. Even when the highest tax bracket was 91%!, the tax revenue as a % of GDP was almost exactly the same as now, when the highest tax bracket is 35%. In fact, tax revenue as a % of GDP has always remained pretty much the same, showing that higher taxes does not lead to more revenue.

The premise of this entire thread is garbage. techs just throws out troll posts to get people bickering. He takes one point (the fact that China's current top tax bracket is 10% higher than ours) and makes the fallacious correlation that higher taxes are a good thing or the only factor that affects an economy.

How many people in China fall into the highest tax bracket? That information is, of course, conspicuously absent from techs' post. I'd reckon that with the incredibly low wages paid to most workers in China, that most wouldn't even pull in $14,000 US.

Also, techs, why no information about the CORPORATE tax on China? He makes the false assumption (surprise) that the only tax that affects an economy is the personal income tax. What about import/export taxes, tariffs, trade laws, etc? Of course, not mentioned, just so he can try and falsely ram his typical liberal drivel.

The reason China's economy is booming is varied, but one of the main reasons why they are successful is because they are doing everything we used to do. Does China have a ridiculous cap and trade bill that cripples its economy for the myth of "global warming/climate change/whatever they change the name to this week once the 'science' has been debunked"? No.

Do they have powerful and tyrannical labor unions demanding $70,000 a year plus lifetime benefits for someone to push a broom? No.

Before the lefties try and put words in my mouth, I am NOT saying that how China treats its employees and the environment is completely right. The best way is in the middle of them and us. The point is that China has developed a very business-friendly economy, while ours is becoming more and more hostile for a business to grow and make money.

when the total share of income receive by people in the top bracket increases dramatically (as it has) you can dramatically cuts taxes and maintain the taxes as % of gdp paid by the top x% The WSJ is being very disingenuous in its argument there and its very easy refuted.

sorry you suck at basic math so much bro.


china is growing rapidly because the are in the stage where every country grows rapidly, just like japan in the 60's/70's/80's or korea in the 90's/00's.

Hmm...

WSJ presents an argument and is a reputable news and financial source.

Some guy on a forum named "miketheidiot" says they are wrong. Then goes on to make the nebulous claim that China is just in some magical growth zone that fantastically explains their super growth.

Yeah, methinks I'll stick with the WSJ on this one.

it was an opinion piece. My opinion is supported by economic reality, their is not. Simply mathematical proofs can wreck their entire argument, because really their entire argument is just presenting the math in a way that distorts its actual substance (by ignoring that the top x% make up a far larger share of income now that previously) yet saying that they still pay about the same portion of taxes as 45 years ago.

Since you appear to know as little about economics as you do about anything else, a link so you can inform yourself:

Text

even though its wiki, its a pretty good condensed presentation of the model, which is pretty empirically sound.

the key idea as it relates to china is that the marginal return on capital diminishes as you get greater ratios of capital/worker. China has much lower ratio's of capital to labor relative to other countries so it will get greater returns (economic growth) for its investments than other heavily industrialized countries, and therefore grow faster. On top of it they have a retardedly high saving rate, although in the long run that willl have little effect on their top end growth.

I would like the Romer model since i like it better and feel it is even better developed model, but its also much more annoying and complex, and the points it makes are the same on the subject.

 

[SammyJr]

Originally posted by: Mursilis

Originally posted by: techs
http://www.worldwide-tax.com/china/china_tax.asp

It's actually quite difficult to find the personal income tax rates in China, but this page seems consistent with what I have found on other sites.
Basically, if you make more than 100,000 yuan (about 14,000 US dollars) you pay 45 percent.

So, in many states in the US you pay less in income taxes than you do in China.

Hmmm..... I guess a high tax rate is not killing China's economy.

How about you send in 45% of your personal income to the federal gov't and let us know how that affects your personal economy? There's certainly no law against overpaying taxes, so feel free to lead by example.

When the Government starts providing comprehensive universal health insurance and tuition free college level education for all, sign me up for a 45% tax rate.

The problem in this country is that we pay taxes and it goes down the military rat hole where we don't see any benefit. If the benefits from taxation were apparent, then maybe people wouldn't complain about them so much.

 

[bamacre]

Originally posted by: SammyJr

Originally posted by: Mursilis

Originally posted by: techs
http://www.worldwide-tax.com/china/china_tax.asp

It's actually quite difficult to find the personal income tax rates in China, but this page seems consistent with what I have found on other sites.
Basically, if you make more than 100,000 yuan (about 14,000 US dollars) you pay 45 percent.

So, in many states in the US you pay less in income taxes than you do in China.

Hmmm..... I guess a high tax rate is not killing China's economy.

How about you send in 45% of your personal income to the federal gov't and let us know how that affects your personal economy? There's certainly no law against overpaying taxes, so feel free to lead by example.

When the Government starts providing comprehensive universal health insurance and tuition free college level education for all, sign me up for a 45% tax rate.

The problem in this country is that we pay taxes and it goes down the military rat hole where we don't see any benefit. If the benefits from taxation were apparent, then maybe people wouldn't complain about them so much.

You really want half your income spent on health care and college education?

 

[StageLeft]

Originally posted by: SammyJr

Originally posted by: Mursilis

Originally posted by: techs
http://www.worldwide-tax.com/china/china_tax.asp

It's actually quite difficult to find the personal income tax rates in China, but this page seems consistent with what I have found on other sites.
Basically, if you make more than 100,000 yuan (about 14,000 US dollars) you pay 45 percent.

So, in many states in the US you pay less in income taxes than you do in China.

Hmmm..... I guess a high tax rate is not killing China's economy.

How about you send in 45% of your personal income to the federal gov't and let us know how that affects your personal economy? There's certainly no law against overpaying taxes, so feel free to lead by example.

When the Government starts providing comprehensive universal health insurance and tuition free college level education for all, sign me up for a 45% tax rate.

The problem in this country is that we pay taxes and it goes down the military rat hole where we don't see any benefit. If the benefits from taxation were apparent, then maybe people wouldn't complain about them so much.

Medicare, SS, military all cost about the same which is around 20% each.

 

[MotF Bane]

Originally posted by: bamacre

Originally posted by: SammyJr

Originally posted by: Mursilis

Originally posted by: techs
http://www.worldwide-tax.com/china/china_tax.asp

It's actually quite difficult to find the personal income tax rates in China, but this page seems consistent with what I have found on other sites.
Basically, if you make more than 100,000 yuan (about 14,000 US dollars) you pay 45 percent.

So, in many states in the US you pay less in income taxes than you do in China.

Hmmm..... I guess a high tax rate is not killing China's economy.

How about you send in 45% of your personal income to the federal gov't and let us know how that affects your personal economy? There's certainly no law against overpaying taxes, so feel free to lead by example.

When the Government starts providing comprehensive universal health insurance and tuition free college level education for all, sign me up for a 45% tax rate.

The problem in this country is that we pay taxes and it goes down the military rat hole where we don't see any benefit. If the benefits from taxation were apparent, then maybe people wouldn't complain about them so much.

You really want half your income spent on health care and college education?

In even more broad terms, you (SammyJr, not bamacre) really want half your income to go to the government?

 

[SammyJr]

Originally posted by: bamacre

Originally posted by: SammyJr

Originally posted by: Mursilis

Originally posted by: techs
http://www.worldwide-tax.com/china/china_tax.asp

It's actually quite difficult to find the personal income tax rates in China, but this page seems consistent with what I have found on other sites.
Basically, if you make more than 100,000 yuan (about 14,000 US dollars) you pay 45 percent.

So, in many states in the US you pay less in income taxes than you do in China.

Hmmm..... I guess a high tax rate is not killing China's economy.

How about you send in 45% of your personal income to the federal gov't and let us know how that affects your personal economy? There's certainly no law against overpaying taxes, so feel free to lead by example.

When the Government starts providing comprehensive universal health insurance and tuition free college level education for all, sign me up for a 45% tax rate.

The problem in this country is that we pay taxes and it goes down the military rat hole where we don't see any benefit. If the benefits from taxation were apparent, then maybe people wouldn't complain about them so much.

You really want half your income spent on health care and college education?

I already putting away money for my kids' college, putting my wife through school, and paying 25% of my salary for health insurance. It would provide me with a lot more retraining options should I ever laid off.

And I doubt it would even need to be 45% to achieve that level of benefit, but you have to appease the "war is the only answer" types with big military spending.

 

[Red Dawn]

If we did away with all the safety regulations and pollutions standards our economy would be a lot better though our quality of life wouldn't be so good.